Gold and Silver Technical Outlook January 11, 2017

11 January 2017

GOLD (XAUUSD)

There was no opportunity to open long trades from the MA55 balance line according to our recommendations. The p[rice is still growing as we mentioned it before as the situation in the United States is still unclear. This fact gives some support to the US dollar. The US President Donald Trump is going to give his comments today and we think the situation may change. If you have any opened positions, we advise to protect them before US President’s speech.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. There was some correctional growth last week and we think it is going to continue in the next couple of days.

XAG/USD is in the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the Ma55 balance line. You may try long trades from the trendline or from the MA55 balance line. Place stop losses below those lines.

SILVER (XAGUSD)

Silver did a good jump upwards but there was no trend and we gave no recommendations. We can se an upside tendency at the moment and you may try long trades from the trendline or from the MA55 balance line with close stop losses. However, we recommend to fix or to protect your positions before Trump’s speech.

There is the downtrend on the Weekly chart as the price is below the MA55 balance line. We had some correctional growth last week and we think it is going to continue this week.

There is the uptrend on the Hourly chart as the MA-channel goes upwards and the price is above the MA55 balance line. You may try long trades from the Ma55 balance line or from the trendline. Place stop losses below those lines.

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